OECD has sharply raised its inflation forecast for Argentina in 2024, to 250.6% compared to 157.1% expected in November. Prices have soared since anarcho-capitalist President Javier Milei came to power in November 2023.
Price increases accelerated sharply in December in Argentina, to 25.5%, after a devaluation of more than 50% of the peso by the new leader to stabilize the economy. The OECD also forecast on Monday a stronger recession than previously anticipated in Argentina.